New AI Inventory Compare Tool for Landlords

In this article, we are excited to introduce our latest inventory comparison product and we also provide details on recent updates to our AI inventory system, Tenancy Manager, and the AI Chatbot.

Inventory Compare: A New Solution for Landlords

We are thrilled to unveil a highly requested service designed to streamline the process of generating reports by comparing check-in and check-out inventories. The Inventory Compare tool is now available in our website's Tenancy Builder section. To access it, navigate to Inventory AI -> Inventory Compare in the sidebar.

Creating a report is straightforward: click "Add," enter a description, and upload PDF files of the check-in and check-out inventories. Our advanced AI will analyse both reports to identify differences, focusing on damages and determining whether they result from fair wear and tear or tenant negligence.

Once the analysis is complete, download the report in Word, PDF, or Markdown formats. Word and Markdown formats are handy as they allow easy editing using your preferred text editor.

250 credits will be deducted to generate an inventory comparison report. Please visit this help page for detailed guidance on developing an inventory comparison report.

Enhancements to AI Inventory Generator

Since its launch, our AI inventory generator has undergone several stability improvements. The most notable update is adding a new summary field for each room. While analysing uploaded room images, the AI generates a summary alongside the list of items, their colours, conditions, and descriptions. This summary can be edited as needed and is automatically included in the generated inventory PDF.

Tenancy Manager: A Powerful Tool for Property Management

Although not widely publicised, our Tenancy Manager has been quietly improving. This feature, located within the Tenancy Builder section of our website, has been in preview mode while we worked on various stability and usability enhancements. We are pleased to announce that Tenancy Manager is now stable and ready for broader use.

Overview of Tenancy Manager

Tenancy Manager is designed for larger portfolios of 25+ tenancies but is also suitable for smaller numbers. This tool is invaluable for tracking rents, arrears, invoices, and inspections, such as gas safety, electrical compliance, fire alarms, and EPCs.

Integrated directly with Tenancy Builder, Tenancy Manager allows new tenancies to be easily added and managed. Existing tenancies can also be imported by entering primary data and choosing the "save for later" option, avoiding the creation of unnecessary PDFs.

Key Features of Tenancy Manager

Rent Tracking: Automatically tracks due rents and records payments. A toggle switch allows for a quick view of tenants in arrears, and arrears notifications can be sent directly via email.

Support for Multiple Landlords and Agents: Manages properties under different ownership structures, including partners or limited companies. It enables agents to issue statements showing rents received, less commission and deductions.

Inspection Tracking: Schedules and tracks inspections, with quick views for inspections due within two months. The inspection list can be exported as a PDF for contractors or mail merges to notify tenants of upcoming inspections.

Additional Resources

For more detailed guidance on using Tenancy Manager, please refer to the help section on our website. Tenancy Manager supports tenancies in both England and Wales.

LandlordAId AI Chatbot: Smarter and Faster

Our AI chatbot, available at the bottom right of every page, has seen significant improvements. Now utilising the latest Large Language Model (LLM), the chatbot operates twice as fast as its previous version. With an impressive accuracy rate of 94%, the chatbot provides reliable answers, reflecting the rapid advancements in AI technology.

We remain committed to continuous improvement, ensuring our tools and services evolve to meet the needs of landlords and property managers. Stay tuned for more updates as we continue to enhance our offerings to support your property management needs.